India

Rajnath Singh Takes To Twitter: India’s Defense Export Reaches Its ‘All-Time High’

India’s Defense Minister, Rajnath Singh shared the exponential numbers that India’s defense exports have reached. It is indeed a record-breaking number of ₹15,920 crore in the financial year 2022-2023. He has praised the nation for the same.

The tweet said, “India’s defense exports have reached an all-time high of Rs 15, 920 crores in FY 2022-2023. It is a remarkable achievement for the country. Under the inspiring leadership of PM Shri Narendra Modi, our defense exports will continue to grow exponentially.”

Statistics from the previous years

The defense minister also provided details on India’s Defense export in the past 5 years –

In the year 2016-17, the export was ₹1,521 crore

In the year 2017-18, the export was ₹4,682 crore

In the year 2018-19, the export was ₹10,745 crore

In the year 2019-20, the export was ₹9,115 crore

In the year 2020-21, the export was ₹8,434 crore

Singh also announced that the government has set a target of manufacturing defense hardware worth ₹1,75,000 crore and taking defense exports to ₹35,000 crore by 2024-25.

Booming defense sector of India

India’s defense sector has gained a lot of strength in the past few years. Since India was quick to realize that it needs to reduce its dependence on other nations for defense equipment. Hence, the nation has started manufacturing the equipments on its own. It has produced fantastic equipments and exported to other countries. India has cracked deals with countries like the US, Southeast Asia, West Asia, Africa, and the Philippines. Most of the share of export and production of defense equipment goes to the private sector but it is anyhow contributing to the economy and self-sufficiency of the nation. India is on its way to become a landmark nation in this sector.

Srishti Verma

Recent Posts

JP Nadda Slams Rahul Gandhi’s ‘Match-Fixing’ Claims As ‘Desperation Of Losing’ Polls

Rahul Gandhi's opinion piece appeared in a national daily and sparked political uproar. Opposition parties…

2 hours ago

Poverty In India Reduced Via Tangible Boost In Household Living Standards, Incomes

In 2022–23, poverty under the revised $3.00 line stood at just 5.25 per cent in…

3 hours ago

Chhattisgarh: Seven Maoists Killed In Indravati National Park Operation

Five Maoists were killed in two separate encounters with security forces in Chhattisgarh’s Bijapur district,…

3 hours ago

Carney Invites Modi To G7 Summit, Highlights India’s Global Supply Chain Role

Canadian Prime Minister Mark Carney said the most populous country, with the fifth-largest economy, must…

4 hours ago

RBI Frontloads Rate Cuts To Boost Growth Amid Low Inflation: Crisil

The Reserve Bank of India (RBI) has frontloaded its rate cuts to support economic growth,…

4 hours ago

PM Modi Urges Global Action On Coastal Resilience At Nice Summit

PM Narendra Modi on Saturday called for urgent global action to build infrastructure that can…

4 hours ago